Indian edtech firm Vedantu acquires doubt-solving platform Instasolv
Vedantu, an India-based edtech firm has announced it has acquired doubt-solving platform Instasolv for an undisclosed sum. The acquisition is expected to add about 1 million users on Vedantu’s app. Meanwhile, Instasolv will leverage Vedantu’s existing capabilities in live classes, tech, product, and content.
Instasolv is a doubt-clearing platform for students from grades six to 12, covering entrance exams for engineering and medicine. Students can take pictures of a query and get instant answers from a database of about 20 million questions and answers on the application.
“Last year we took a strategic decision to invest in Instasolv to strengthen our play in doubt-solving, which is one of the key aspects of learning online,” said Vedantu CEO Vamsi Krishna, referring to the firm’s US$2 million investment in Instasolv’s pre-series A round in June 2020.The most recent deal marks the first acquisition by Vedantu amid a slew of consolidations in the Indian edtech market. It also helps Vedantu reach Tier 2 and Tier 3 towns with its product.
This development comes on the heels of India’s largest edtech startup Byju’s reportedly acquiring another doubt-solving edtech startup Scholr for about US$2.1 million to US$2.8 million.
A few weeks prior to this, Byju’s signed a deal to acquire rival Toppr Technologies in a transaction valued at roughly US$150 million. In January, the company had also reportedly signed a deal to acquire brick-and-mortar test prep leader Aakash Educational Services for US$1 billion.
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